Pompano Drops Plan To Refinance Debt

POMPANO BEACH — Already plagued by uncertainty, the city`s plans to refinance $24 million in outstanding water and sewer debts have been scrapped for the time being, city officials said.

Assistant City Manager Danny Crew said the paper work could not be assembled before the end of the year, when new tax laws under consideration in Congress may eliminate refunding plans including the one the city was considering.

Original plans called for a $24 million issue of revenue bonds that would repay all debts on old water and sewer bond issues, some dating back to 1962, and create more favorable repayment terms for the new debt.